However, it's Vice President of Investors relations, Ira M. Gostin, said reports are false. Gostin told Reuters, "There hasn’t been anything actually passed in the Guatemalan law or anything proposed."

Volume is staggering today, about 3.1 million shares crossing compared with the trailing average of about 230,000 per day. The stock fell to a new low of $8.55 at the start, down 46 percent from Wednesday's close of $15.80.